Brian Battison of Taseko Mines believes the company has a good shot at winning round two in its bid to bring one of the world's largest gold mines to life near Williams Lake.
"We have reason to be confident in this project," Taseko's vice-president of corporate affairs said as public hearings ended in August on the controversial New Prosperity gold and copper mine.
The first time the development underwent a series of public hearings, the federal government rejected the project, which was then called Prosperity, because Taseko planned to drain local Fish Lake in order to build a tailings pond. Fish Lake is about 125 kilometres southwest of Williams Lake and adjacent to the area on which Taseko wants to build the mine.
The plan to drain the lake angered local First Nations communities. The Tsilqot'in National Government, a council representing five First Nations communities in the area, pressed Ottawa to reject Prosperity.
Taseko has since reworked its proposal and now plans to save Fish Lake and build its tailings pond 2 kilometres upstream. The move, according to Taseko, will cost the company an additional $300 million. If developed, Taseko expects New Prosperity to cost more than $1 billion.
The company's new design, however, failed to convince the Tsilqot'in of the project's merits.
In a phone interview with Business in Vancouver, Tsilqot'in Chief Joe Alphonse reiterated the Tsilqot'in's sentiments, scoffing at Taseko's claims of saving Fish Lake.
"If the mine is built, the lake will die," he said. "Our mandate is to protect the land and block Taseko from moving forward."
The mine is estimated to contain 13.3 million ounces of gold and 13.3 million pounds of copper. It is considered the largest undeveloped gold-copper deposit in Canada and the 10th-largest in the world.
The mine is expected to generate $11 billion in real gross domestic product and provide thousands of jobs over its 20-year lifespan.
The federal environmental panel has 70 days from the time the public hearings ended to make a recommendation on the mine's future.
from Western Investor October 2013
